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Economy

Pertaining to the system or range of economic activity in a country, region, or community.

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Economy > International trade

appellate body

Economy; International trade

An independent seven-person body that considers appeals in WTO disputes. When one or more parties to the dispute appeals, the Appellate Body reviews the findings in panel reports.

applied tariff

Economy; International trade

Duties that are actually charged on imports. These can be below the bound rates.

applied rates

Economy; International trade

Duties that are actually charged on imports. These can be below the bound rates.

Article XX

Economy; International trade

A GATT article listing allowed “exceptions” to the trade rules.

Association of Southeast Asian Nations (ASEAN)

Economy; International trade

Eight ASEAN members are members of the WTO — Brunei, Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore and Thailand. The other ASEAN members — Laos and Vietnam — ...

Agreement on Textiles and Clothing (ATC)

Economy; International trade

The WTO Agreement on Textiles and Clothing which integrated trade in this sector back to GATT rules, expired on 1 January 2005.

automatic import licensing

Economy; International trade

when applications for import licenses are approved in all cases.